Hemisphere Media buys 3 Hispanic Cable TV Networks

What: Hemisphere Media Group, Inc.  will acquire three Spanish-language cable television networks from Media World for US $ 102 million. Pasiones, Centroamerica TV and TV Dominicana will from now on be part of Hemisphere Media Group portfolio.

Why it matters:  The transaction reflects what Alan Sokol, CEO of Hemisphere Media Group told Portada last year, when Hemisphere Media Group went public, that the Hispanic cable market is still very fragmented and players such as Hemisphere Media are consolidating assets. Economies of scale in marketing, programming and distribution can be obtained through this process.

Hemisphere Media Group, Inc (“Hemisphere”), announced that its subsidiary company Hemisphere Media Holdings will acquire three Spanish-language cable television networks from Media World, which is owned by Hispanic content and service provider Imagina US.

Hispanic Cable TV

Hispanic Cable TV

The deal was closed at US $102.2 million in cash, subject to eventual post-closing adjustments. The acquisition is planned as an asset purchase and as such, expected to be funded with cash on hand. The transaction will close in the first quarter of 2014.

Together, these assets are expected to have generated approximately US $12.2 million of EBITDA in 2013.

As a result of the transaction, the networks acquired are :

•             Pasiones, dedicated to showcasing telenovelas and series and  distributed to approximately 3.8 million subscribers in the US and 7.2 million subscribers in Latin America.

•             Centroamerica TV, featuring the news, entertainment and soccer programming from Central America with over 3.3 million subscribers in the US .

•             TV Dominicana, the network featuring news, entertainment and baseball programming from the Dominican Republic, with over 2.2 million subscribers in the US.

Together, these assets are expected to have generated approximately US $12.2 million of EBITDA in 2013.

Celeste Martorana @celesmartorana

Celeste joined Portada’s team in 2014. Since then, she has been working as an editor for Portada’s English-language website and compiling information for Portada’s Databases.

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